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HKMA unveils measures to combat climate change risks

Hong Kong’s de facto central bank has unveiled key measures on sustainable banking and green finance in a bid to combat climate change risks, as the city aspires to become a global centre for environmental, social and governance (ESG) investing.

The Hong Kong Monetary Authority (HKMA) will develop a common framework in the next 12 months to assess the “greenness” of individual banks, but it will consult with the industry first, it said during a forum on May 7. To encourage sustainable finance,